7 miles south-west of Dartmoor National Park, 40 miles south-west of Exeter
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport, Cornwall Airport Newquay
Situation
The port city of Plymouth is located on the south west coast 40 miles south west of Exeter, 30 miles east of St Austell and 7 miles south of Dartmoor National Park. The property is located in the city centre on Armada Way close to its junction with Cornwall Street and Armada Way shopping centre. Plymouth Bus station is close by together with a number of public car parks. City of Plymouth University and Plymouth railway station are within walking distance to the north. Nearby occupiers include Sainsbury's, Tesco, McDonald's, Subway, Caffè Nero, Greggs, Sports Direct, Clarks & HMV.
Tenure
Long Leasehold. Held from Plymouth County Council expiring in 2118 at a current ground rent of £7,759.20 pa, subject to review - please see legal pack for further information.
Location
Miles
7 miles south-west of Dartmoor National Park, 40 miles south-west of Exeter
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport, Cornwall Airport Newquay
Situation
The port city of Plymouth is located on the south west coast 40 miles south west of Exeter, 30 miles east of St Austell and 7 miles south of Dartmoor National Park. The property is located in the city centre on Armada Way close to its junction with Cornwall Street and Armada Way shopping centre. Plymouth Bus station is close by together with a number of public car parks. City of Plymouth University and Plymouth railway station are within walking distance to the north. Nearby occupiers include Sainsbury's, Tesco, McDonald's, Subway, Caffè Nero, Greggs, Sports Direct, Clarks & HMV.
Tenure
Long Leasehold. Held from Plymouth County Council expiring in 2118 at a current ground rent of £7,759.20 pa, subject to review - please see legal pack for further information.
Description
The property comprises a substantial building providing 2 ground floor retail units with separately accessed offices to the upper floors and storage to the lower ground floor. The property benefits from rear loading via Mayflower Street West.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial building providing 2 ground floor retail units with separately accessed offices to the upper floors and storage to the lower ground floor. The property benefits from rear loading via Mayflower Street West.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas sq m
Floor Areas sq ft
Tenant
Term
Rent p.a.x.
Lower Ground
Storage
222.96
(2,400)
MICHAEL SPIERS (JEWELLERS) LIMITED t/a Michael Spiers
A term of years until 22/05/2027
£2,300
Ground
Retail
117.98
(1,270)
AUDIKA HEARING CARE LTD t/a Audica
A term of years until 19/11/2030 (1)
£22,000
Ground
Retail
70.04
(754)
INDIVIDUAL t/a Cloud 9 Doughnuts
A term of years until 06/02/2030 (2)
£15,000
First
Office
191.56
(2,062)
THE BEST CONNECTION GROUP LIMITED t/a The Best Connection
A term of years until 04/11/2030 (3)
£20,000 (4)
Second/Third
Office
352.10
(3,790)
VACANT
-
-
Total approximate floor area
954.64
(10,275)
£59,300
(1) The lease is subject to a tenant option to determine on 20/11/2028. (2) The lease is subject to a tenant option to determine on 06/02/2028. (3) The lease is subject to a tenant option to determine on 04/11/2028. (4) The lease relating to the first floor provides for a current rent of £10,000 per annum until November 2026, after which the rent increases to £20,000 per annum. The seller will 'top-up' the rent from completion of the sale, so that the property will effectively produce a total of £59,300 per annum. N.B. The floor areas are provided by the seller.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
